Sensex rebounds 132 pts ahead of July derivatives expiry
After falling for four straight sessions, the benchmark BSE Sensex recovered over 132 points in early trade today as stocks of metal, auto, IT and banking led gains on fresh buying by investors.
The 30-share index rose by 132.42 points, or 0.48 per cent, to 27,591.65. The gauge had lost 1,045.70 points in the previous four sessions. In similar fashion, the National Stock Exchange index Nifty edged higher by 37.90 points, or 0.59 per cent, to 8,374.90.
Brokers said covering-up of short positions in some bluechip stocks by speculators in view of July's derivatives expiry tomorrow helped snapping the four-session long falling streak.
Besides, a mixed trend at other Asian markets with investors taking cues from a rally on US markets ahead of a policy decision from the Federal Reserve, influenced the sentiments, they added.
Among other Asian markets, Hong Kong Hang Seng was up by 0.19 per cent, while Japan's Nikkei shed 0.58 per cent in early trade today. The US Dow Jones Industrial Average ended 1.09 per cent higher in yesterday's trade.